Attorney David Band will not face a second trial

Published: Thursday, March 14, 2013 at 4:44 p.m.

Last Modified: Thursday, March 14, 2013 at 4:44 p.m.

SARASOTA - Prominent local attorney and real estate investor David S. Band will not have to face a second trial to decide whether damages are owed to a disgruntled investor in a botched Virgin Islands condominium project.

The decision by the state's 2nd District Court of Appeals on Wednesday officially closes the five-year legal fight in favor of Band and against plaintiff and investor Harold Libby.

Libby has sought more than $1 million in damages stemming from problems and construction delays on the 48-unit Grande Bay condo project, on the island of St. John in the U.S. Virgin Islands.

Libby sued Band in August 2008, claiming negligence and fraud.

He said Band, who was in charge of a partnership building Grande Bay and who was his personal attorney, failed to properly monitor work on the development.

A jury in May 2011 exonerated Band of nearly all the allegations in the case, but Circuit Court Judge Charles Roberts ruled that a second trial would have to determine whether Libby was entitled to damages.

Band appealed that decision.

Band said Thursday the appeal's court's decision shows he did nothing wrong in the Grande Bay project.

"People come up with all kinds of things against me that are totally false," he said. "It's sort of disgusting, in a lot of ways. I didn't do anything, and he sues me."

Libby, who had extensive real estate experience buying shopping malls and retail centers in several states, acknowledged at trial that he did not read important documents associated with Grande Bay, saying he trusted Band, who had represented him in several matters earlier.

Libby did not return phone messages left at his Sarasota home.

Both sides agreed that the Grande Bay development did not work out as planned. The project went roughly $45 million over budget and its completion was delayed by several years.

Libby in 2001 made an initial investment of $140,000 for a 10 percent stake in the St. John condos. But as the project's expenses added up, his total contribution ballooned to more than $1 million, according to the six-page appeals court decision.

When he balked at providing more money for the condo development, the Band-led investor group exercised its right to kick Libby out.

Band said at trial he was merely a partner in the project, and that he was not acting as Libby's personal counsel for the condo deal.

"I hadn't done any work for (Libby) on that project," Band said Thursday. "That's the truth, and that's what the court found. I will be glad to put all of this behind me."

"We're very happy with the results," said Steve Hutton, Band's attorney in the case. "We still have the issue of attorney fees, which he (Band) will be entitled to recover, and then this case is over."

<p><em>SARASOTA</em> - Prominent local attorney and real estate investor David S. Band will not have to face a second trial to decide whether damages are owed to a disgruntled investor in a botched Virgin Islands condominium project.</p><p>The decision by the state's 2nd District Court of Appeals on Wednesday officially closes the five-year legal fight in favor of Band and against plaintiff and investor Harold Libby.</p><p>Libby has sought more than $1 million in damages stemming from problems and construction delays on the 48-unit Grande Bay condo project, on the island of St. John in the U.S. Virgin Islands.</p><p>Libby sued Band in August 2008, claiming negligence and fraud. </p><p>He said Band, who was in charge of a partnership building Grande Bay and who was his personal attorney, failed to properly monitor work on the development.</p><p>A jury in May 2011 exonerated Band of nearly all the allegations in the case, but Circuit Court Judge Charles Roberts ruled that a second trial would have to determine whether Libby was entitled to damages.</p><p>Band appealed that decision. </p><p>Band said Thursday the appeal's court's decision shows he did nothing wrong in the Grande Bay project.</p><p>"People come up with all kinds of things against me that are totally false," he said. "It's sort of disgusting, in a lot of ways. I didn't do anything, and he sues me."</p><p>Libby, who had extensive real estate experience buying shopping malls and retail centers in several states, acknowledged at trial that he did not read important documents associated with Grande Bay, saying he trusted Band, who had represented him in several matters earlier.</p><p>Libby did not return phone messages left at his Sarasota home.</p><p>Both sides agreed that the Grande Bay development did not work out as planned. The project went roughly $45 million over budget and its completion was delayed by several years.</p><p>Libby in 2001 made an initial investment of $140,000 for a 10 percent stake in the St. John condos. But as the project's expenses added up, his total contribution ballooned to more than $1 million, according to the six-page appeals court decision.</p><p>When he balked at providing more money for the condo development, the Band-led investor group exercised its right to kick Libby out.</p><p>Band said at trial he was merely a partner in the project, and that he was not acting as Libby's personal counsel for the condo deal.</p><p>"I hadn't done any work for (Libby) on that project," Band said Thursday. "That's the truth, and that's what the court found. I will be glad to put all of this behind me."</p><p>"We're very happy with the results," said Steve Hutton, Band's attorney in the case. "We still have the issue of attorney fees, which he (Band) will be entitled to recover, and then this case is over."</p>